Hello,
With the Indian startup ecosystem in the cold grip of a funding winter, things may not be looking too up. However, while the flow of capital may have temporarily slowed, the flow of ideas hasn’t.
Sectors like generative AI, Web3, and fintech are budding with ideas for innovation that have the potential to transform the world as we know it with new payment systems, digital currencies, and more.
But success isn’t handed on a silver platter. As French dramatist Cornielle put it, “To win without risk is to triumph without glory.”
On World Entrepreneurship Day, we, at YourStory, celebrate the spirit of getting out and doing something—solving problems, reshaping the business landscape, and making the world a better place to live.
Elsewhere, Rahul Yadav’s 4B Networks is under heat again.
Mumbai Police’s Economic Offences Wing has filed an FIR against Yadav and Sanjay Saini on allegations of defrauding advertising firm Interspace Communication of Rs 10 crore and not settling dues.
Oh, and ISRO’s Chandrayaan-3 is still on track to be the first lunar probe to successfully reach the Moon’s south pole. Russia’s Luna-25—the country’s first lunar expedition in 47 years—crashed on the surface in a failed attempt.
All eyes are on August 23 now as India makes another attempt to land on the Moon.
In today’s newsletter, we will talk about
- PhysicsWallah bets big on skilling
- Building next big healthtech startup
- Inside the world’s best bar
Here’s your trivia for today: The largest organ in the human body is the skin. Which one is the second-largest?
Edtech
PhysicsWallah bets big on skilling
PhysicsWallah (PW), which began its journey as a YouTube channel by Alakh Pandey, is now betting big on skilling.
“In the entire journey of a student, the ultimate conclusion is reached only when a student secures a job,” says Vishwa Mohan, CIO of PW, adding that skilling plays a crucial role in the process, addressing the significant disparity between college education and industry demands.
Skilling focus:
- As PW’s offline skilling strategy, its Institute of Innovation’s campus in Bengaluru will provide a four-year residential programme focused on computer science and AI.
- For skilling, it operates through two YouTube channels: PW Skills and PW focuses on college-related content in Hindi while PW Skills Tech serves an English-speaking audience.
- Last December, the startup acquired iNeuron Intelligence Private Limited, a specialised upskilling platform focusing on artificial intelligence and data sciences, for $30.2 million.
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PW Skills
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Investment
Building next big healthtech startup
Dr Pankaj Jethwani and Sunil Wadhwani started 2070 Health as a platform to create new healthtech companies. It has a bottom-up approach to building innovative healthcare ventures from scratch.
Supporting health:
- 2070 Health raised $30 million in funding in June this year from healthcare-focused VC fund W Health Venture.
- The venture studio invests anywhere between $1 million to $1.5 million at the incubation stage. It expects the investment amount to last a 12-month runway.
- It has so far incubated three companies—medical obesity management platform Elevate Now, end-to-end pain management brand Nivaan, and Reveal Healthtech.
Wine and food
Inside the world’s best bar
For Giacomo Giannotti and Margarita Sader, it’s important to touch upon all five senses before you sip a cocktail at Paradiso, Barcelona—named the world’s best bar in 2022.
“It doesn’t always need to be theatrical…it [the ingredients] need to be balanced and need to match. It’s also important to have a big selection that caters to the palettes of all the clients,” says Sader.
Immersive drinking:
- This year’s theme at Paradiso revolved around evolution—canvassing the history of man and several defining moments in human history.
- Every year, it serves up a different version of the Negroni—a traditional Italian aperitif cocktail which is an ode to Giannotti’s Italian roots.
- It has a penicillin-inspired cocktail made using the technique of fermented glass along with fermented spirits.
News & updates
- Helping hand: Singapore has rolled out a $5.2 billion pension plan for people in their 50s and early 60s. It will comprise a yearly earn-and-save bonus, retirement age saving bonus, and healthcare bonus. The support package will benefit about 1.4 million older people across generations.
- Chip wars: The UK will spend up to £100 million ($127 million) on thousands of high-powered artificial intelligence chips. The British government has been in discussions with IT giants Nvidia, Advanced Micro Devices, and Intel about procuring equipment for a national ‘AI Research Resource’.
- New and shiny: Rolls-Royce has unveiled the world’s most expensive and exclusive new car which comes with a price tag of £25 million ($32 million). The unique two-door, two-seater convertible Droptail—called ‘La Rose Noire’—is a private commission.
The largest organ in the human body is the skin. Which one is the second-largest?
Answer: Liver. It is the largest internal organ, weighing approximately 1.5 kg.
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